Breaking records, the S&P 500 grew 40% in 12 months, adding $14 trillion in market cap.
Sectors & Industries
October 28, 2024
The S&P 500 has surged 40% over the past 12 months, a remarkable gain that surpasses any annual return since 1954. This growth is four times its historical average annual return of 10%, bringing the market’s value to $48.6 trillion. Historically, election years have not hindered performance, averaging an 11.3% return since 1928. Despite uncertainties like wars, inflation, and a delayed Fed pivot, the market defied expectations. The S&P 500 added $14 trillion in market capitalization, marking the largest 12-month gain in stock market history.
The University of Michigan's consumer sentiment for the U.S. was revised to 70.5 in October 2024, the highest in six months. Both economic conditions and expectations improved, with gains in durable goods buying conditions due to easing interest rates. Confidence in a Harris presidency fell to 57%, while Republican sentiment rose by 8%, expecting a Trump win. Inflation expectations remained at 2.7% for the year ahead, with five-year projections at 3%.
The New York Stock Exchange plans to extend its electronic trading hours to 22 hours a day, operating from 1:30 a.m. to 11:30 p.m. ET on weekdays, pending regulatory approval. This move aligns with increasing demand for extended trading in U.S. markets, particularly following Robinhood's introduction of "24/5 trading" in 2023.
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